We regularly write articles to keep you up to date with changes that affect your growing business.
Knowing which taxes your business is liable for can feel a bit overwhelming, which can result in you not recognising opportunities to save on tax. If you have a limited company or a foreign company with a UK branch, you will be liable to pay Corporation Tax on any profits. Clubs or unincorporated associations should
First announced by the Chancellor in the Spring Statement, changes to the employment allowances, worth up to £1,000 for eligible small businesses, came into effect on 6 April. The Employment Allowance now allows eligible employers to reduce their annual National Insurance liability by up to £5,000 – up from £4,000 – helping nearly half a million businesses
The British Business Bank has launched a campaign to alert and encourage SMEs to make the most of the commercial benefits of investing in decarbonisation. The bank’s #GreenToGrow campaign includes a new ‘Green Decoder’, an online guide co-created with Nottingham Business School, Nottingham Trent University, to help smaller businesses decipher the terminology surrounding decarbonisation. Research commissioned
Deciding to start your own business can feel like a leap of faith but being prepared for the steps you will need to take can ameliorate this lack of confidence. With a wave of young people aspiring to become entrepreneurs, along with individuals with established careers deciding to go it alone, many people may be
A major change in the way VAT is reported comes into force from tomorrow. Every small business that charges VAT will have to file accounts through the HM Revenue & Customs (HMRC) Making Tax Digital (MTD) system. All VAT-registered businesses must use MTD for VAT for their first VAT return starting on or after 1
Many are feeling the impact of the increasing cost of living on their finances, with the inflation rate soaring to a 30 year high of 6.2 per cent in February. As prices rise across the UK, from the strain of increased energy, fuel, and food costs, individuals may have been searching for ways to maintain
Hopes that the temporary VAT cut for hospitality would be extended were dashed in Chancellor Rishi Sunak’s Spring Statement this week. A return to 20 per cent from the 12.5 per cent figure will be met with disappointment by thousands of hospitality businesses, trade body UKHospitality said. The news was tempered by figures released this
As the war in Ukraine rages, UK SMEs are facing new import and export headaches on top of any problems already being experienced with Brexit. Any business involved in international trade, whether importing, exporting or part of the supply chain supply to those firms, is faced with a rapidly changing regulatory environment. In particular manufacturers,
Exactly two years since the first lockdown was announced, the eyes of the public were firmly fixed on the Chancellor, Rishi Sunak, as he rose to the despatch box in the House of Commons to deliver his Spring Statement. Yet again, Mr Sunak found himself addressing MPs against a background of crisis, with the residual
Raising revenue is often one of the key objectives for small and medium-sized businesses (SMEs), however it can be a difficult process to navigate. The last two years have had a damaging impact on UK businesses, with closures due to coronavirus restrictions and a lack of consumer confidence contributing to the 6.5 per cent of
The British public is overwhelmingly in support of the temporary 12.5 per cent rate of VAT for hospitality being retained. According to a new poll, nearly 80 per cent are in favour, but the Government seems determined that the rate will return to 20 per cent next month. Nearly three-quarters (72 per cent) of the
It is perhaps a sign of confidence returning to the UK economy that a significant number of British businesses believe they will be recruiting staff over the coming year. SMEs are the lifeblood of the UK economy and new research has found that two in five (41 per cent) employers expect the numbers of staff
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